HD sales off

[Furious Styles]

Found 1 ! Honda RVF750 RC45 - eBay (item 260263807274 end time Jul-23-08 20:28:13 PDT)

A little pricey to start off... I'd have to go into the mattress for this one... i think I'll hold off.

[GAMBLER]

anecdotal evidence of collapse in progress?


http://www.floridatoday.com/apps/pbcs.dll/article?AID=/20080811/BREAKINGNEWS/80811021/1086

Melbourne Harley dealer closes doors

BY WAYNE T. PRICE • FLORIDA TODAY • August 11, 2008

Space Coast Harley-Davidson/Buell closed in Melbourne location on Sunday and consolidated sales and service at its Palm Bay location.

Dealership owner Steve Oktela could not be reached for comment on Monday.

A sign on the door of the former dealership, at 6030 N. U.S. 1 in Melbourne, “Notice to all Pineda Valued Customers: As of Sunday, August the 10th, all business will be conducted at our Main Dealership, Space Coast H-D in Palm Bay.”

The sign went to read that all “special orders, deposits, rentals and motorcycle deliveries will be honored at the Palm Bay location.

“If immediate assistance is needed, call 321-508-7179,” the sign said.

Both of Oktela’s dealerships last year received Harley-Davidson Motor Co.’s 2007 model year “Gold Bar & Shield Circle of Excellence Award,” a top honor by the motorcycle manufacturer.”

[sburns2421]

Originally Posted by Area 51

You've got it backwards. That they are lucky enough to have a target market is the key. Marketing doesn't do squat unless you have a bunch of dumb saps who already think they "need" your product. Harley is just lucky that there exists a "need" for ego-boosting appurtenances. The genius is in the bikes. Not that they appeal to me though - just a few modded ones do, but not enough to buy one.

+1
In my experience (non-motorcycle related) it seems picking the right product is more important than anything else. You could have a high quality product that no one wants (Victory?) or an acceptable product everyone thinks they need (H-D). Finding just the right niche, and differentiating your product to fill that niche seems to be the key. To Harley's credit they have a virtual monopoly on big cruisers. If H-D is struggling, Victory must really be sucking wind at the moment.

I've worked for good companies full of talented people that constantly struggled with bankruptcy due to their product. I've also worked with decently-ran companies that basically print money because of the product they sell.

[Latebraker]

We had a new HD/Buell dealer open recently in Eden Prairie, MN. The other dealers I've been in seem to be doing fine. I'd say that it is more of a territorial thing that some dealers are going under, other area's they are still doing a good amount of business.

The dealers that were fair with their customers all along will still maintain a strong customer following.

[GAMBLER]

the Vtwin aftermarket which exploded over the last few years is taking a big hit S&S just had a huge celebration for their 50th anniv

S&S Cycle Home Page - Welcome

C Huze reports...
The US economic slow down/recession is impacting most companies, especially in our automotive/motorcycle industry. Sales of S&S Cycles high performance engines and parts being sharply down due to the shrinking of motorcyclists disposable income, S&S Cycle President Brett Smith has decided to cut 60 employees out of a total of 195 workers in its 2 facilities of Viola & La Crosse, Wisconsin. As you know, the company just celebrated in June its 50th Anniversary. The cutbacks will be done through layoffs and voluntary separation. The company acknowledges that S&S cycle makes products and components that people don’t need to have, and consequently must adjust its work force to the new economic realities.

S & S Cycle cuts 60 workers : La Crosse Tribune

S & S Cycle cuts 60 workers
By RYAN STOTTS / La Crosse Tribune

VIOLA, Wis. — The euphoria for S & S Cycle’s 50th anniversary in June has been short-lived.

Company President Brett Smith announced Friday that 60 workers have been cut this month through voluntary separation and layoffs.
“This was a very, very hard decision personally,” Smith said. “People I’ve known for years were impacted.”

He blamed the economic slump for a downturn in sales of the company’s high-performance engine parts and engines for motorcycles.

“In the grand scheme of things, we make a product that people don’t need to have,” he said.

All but two of the cuts were made at the company’s Viola site rather than the La Crosse location, Smith said.

The company Aug. 4 offered voluntary separation packages that 33 employees — mostly in product development and sales and marketing — accepted, Smith said. They began leaving the company Aug. 8, he said.

Another 27 employees, primarily in production and manufacturing, were laid off by Thursday, Smith said.

Others who remained have been transferred to different areas, such as customer service.

S & S now employs a total of about 195 at both sites, he said.

“We’re doing everything we can to become lean and consolidate our efforts for future long-term employment,” Smith said. “We don’t expect to be in this position forever.”

The company’s core business of bolt-on, high-performance, after-market components still is strong and growing, he said, but S & S had to take a pragmatic approach in an economic environment that’s seeing less disposable income.

“It’s a very unfortunate decision, coming on the heels of our 50th anniversary,” Smith said.

The S & S event, which drew an estimated 28,000 motorcycle enthusiasts to La Crosse in late June, played no role in the cutbacks, Smith said. Despite rumors, the cost of hosting the event was completely covered by sales of the 50 custom motorcycles made for the competition, he said, and the support of the community.

Ryan Stotts can be reached at (608) 791-8446 or ryan.stotts@lee.net.

[drthompson65]

Guess the OCC craze has now ended. The last show they built a bowling bike.

[GAMBLER]

American Ironhorse $10 million dollar bankruptcy liquidation sale...

Liquidations, Auctions & Negotiated Sales! Phone:616.719.5917

American IronHorse Motorcycles

Bankruptcy Court Order: Case Number 08-40926
$10,000,000 + Excess Parts Inventory
Excess V-Twin Chopper Parts

Transmissions, Frames, Wheels, Starters, Exhuasts, Forks, Shocks,
& Everything to Customize your Bike or Build one from Scratch.

EVERYTHING MUST BE SOLD! REGARDLESS OF COST OR LOSS!

TERMS OF SALE
All Sales are Final - No warranties implied or expressed. Everything is sold As-Is Where Is!
No fitness for any purpose implied! We accept Cash, Bank Money Orders, Credit Cards, & Wire
Transfers. Payable to Liquid Asset Partners LLC. 10% Buyers Premium on all purchases. Texas
Sales Tax will be applied. NO Checks!!! All items are subject to pre-sale, or removal. Bulk buyers
may contact Liquid Asset Partners LLC, for a complete inventory list and pre-sale information.
Bulk buyers (over $2,000), may make offers thru our office.

DON'T MISS THIS ONE! Thousands of new and used items.
EVERYTHING MUST GO! MAKE OFFERS!
Open The Public & Dealers, Bring Your Trucks & Trailers.
Friday, September 12th at: 4600 Blue Mound Rd., Fortworth, TX

[Busy Little Shop]

Originally Posted by Furious Styles

This response has prompted me to begin the search for a RC45... basket case or other wise.... it mgiht years from now thats its completed but the 1st to know will be you Larry.

Pat (trussdude) has an RC45 4 sale...

[1996900sp]

Originally Posted by drthompson65

Guess the OCC craze has now ended. The last show they built a bowling bike.

I see craigslist filled with choppers for pennies on the dollar. You have to laugh. once Vinnie left I knew the entire craze would collapse.

[drsus]

i just bought an '09 Ultra and i had deposits in 4 dealers... still had to battle it out on 3 Ultras til i got mine, it was warfare trying to snatch on of these up..... they cant keep the '09 on the floor, of any model..this in all SoCal dealers.... so theyre doing fine here

The aftermarket bikes are having trouble because like the housing market, the prices for these thing ballooned out of control and into stupid price territory. Now with the economy as it is, people are a little smarter about where they put their money and overpriced garage built piles of crap is not the place for hard earned money.

Ive been building my own Harleys since college and i never charged more than
$15k for any of my bikes when i sold them... to see similar if not inferior bikes being sold in the $20k and even $50k territory is a joke, they deserve to eat it now for abusing the market.

[GAMBLER]

Originally Posted by drsus

i just bought an '09 Ultra and i had deposits in 4 dealers... still had to battle it out on 3 Ultras til i got mine, it was warfare trying to snatch on of these up..... they cant keep the '09 on the floor, of any model..this in all SoCal dealers.... so theyre doing fine here

The aftermarket bikes are having trouble because like the housing market, the prices for these thing ballooned out of control and into stupid price territory. Now with the economy as it is, people are a little smarter about where they put their money and overpriced garage built piles of crap is not the place for hard earned money.

Ive been building my own Harleys since college and i never charged more than
$15k for any of my bikes when i sold them... to see similar if not inferior bikes being sold in the $20k and even $50k territory is a joke, they deserve to eat it now for abusing the market.

The ultra is a bagger no? I think the HD market in general has moved towards baggers, bikes that can be ridden.
A bit anecdotal but I have seen less "choppers" & more baggers at the runs & custom shows. Allot of custom chopper builders have started doing baggers in attempt to survive this market... Big Bear Choppers | Bikes | G.T.X.
Klock Werks Kustom Cycle, Custom Bagger Creations | Kustom baggers
Milwaukee Bagger LLC: HARLEY DAVIDSON MOTORCYCLE Custom Stretched Saddle Bags,Side Covers and Fenders NEW RTM(RESIN TRANSFER MOLDING)STRETCHED SADDLEBAGS NEVER SEEN BEFORE IN THE AFTER MARKET MOTORCYCLE INDUSTRY.
I used to subscribe to a rag called Hotrod Bike Works, lot's of garage built chops & tech articles... after 15 years they called it quits rebranding themselves Hotbike Baggers magazine in an effort to stay afloat

If your in SoCal go check out the GIGANORMOUS HD boutique in Venice where square footage is $$$ If the t-shirts & bikes sales slow even a little it's going to murder dealers like Bartels Bartels' Harley-Davidson :: Gallery : Progress the American consumer/crack addict has OD'd & it will be reflected in HD's 10 K, as well as other motorcycle brands

[GAMBLER]

Big Dog announces layoffs - Wichita Business Journal:

Friday, September 5, 2008 - 2:50 PM CDT


Big Dog announces layoffs


Wichita Business Journal - by Levi Wolters

Big Dog Motorcycles announced Friday it has laid off 22 employees and will lay off 27 more in the next 60 days.

The layoffs are a consequence of economic problems, which no motorcycle company has been immune to this year, says Paul Hansen, marketing director at Big Dog.

It is the third round of layoffs for the Wichita company in the last year.

“We’re resizing the company to reposition it so when the economy rebounds we’ll have the right product, and we’ll still be a viable player in the marketplace,” Hansen says.

Hansen says high-end motorcycle sales, which Big Dog specializes in, have been on the decline for the last two to three years.

“Then we come into this year with the mortgage crisis,” he says. “That’s kind of hurts us on both fronts, because a lot of our customer base is the people who build the houses — a lot of home builders and contractors and blue-collar workers.”

Lenders tightening credit standards, high gas prices and the upcoming presidential election have also contributed to the slump, Hansen says.

Big Dog Motorcycles

[drsus]

yeah the ultra is a "bagger" actually a "full dresser" to be exact. Its the fully loaded full luggage model..the grampa model if you will...eventhough im only 36.... shows how long ive been ridding the things that im already on one of these puppies.
THe HD market is a funny thing. There wil always be the guys that have been ridding them since the started ridding bikes...thens theres the "trend" buyers. in an economic slow down like now youre gonna loose the "trend" buyer, which is a hugge market for HD.

[GAMBLER]

http://news.moneycentral.msn.com/category/topicarticle.aspx?feed=AP&Date=20080905&ID=9107577 &topic=TOPIC_HOT&isub=2

Harley-Davidson shares skid on sales worries
September 5, 2008 5:50 PM ET

NEW YORK (AP) - Shares of Harley-Davidson Inc. fell Friday, on worries that weak consumer spending and a lackluster 2009 product lineup will result in lower sales down the road for the iconic motorcycle maker.

Harley-Davidson shares dropped 87 cents, or 2.2 percent, to $39.20. Over the past 52 weeks, the company's shares have traded between $32.18 and $55.

Citi's Gregory R. Badishkanian said it appears that Harley-Davidson's sales have slowed in the first two months of the third quarter.

Badishkanian, who rates the shares "Sell," said the company could post a sales decline percentage for July and August in the "mid-teens," which would follow an 8.7 percent drop in the second quarter.

"This may be due to the weak consumer environment, which has been impacting other leisure vehicle manufacturers," Badishkanian wrote in a note to investors.

For the full third quarter, Badishkanian said he expects a sales decline percentage in the "low teens," citing easier sales comparisons for September.

The analyst also said that he doesn't expect Harley-Davidson's 2009 models, which are expected to be less innovative than the 2008 versions, to boost the company's sales much.

"A weak model year 2009 product intro may result in a continuation of weak U.S. retail sales and could also result in a further moderation in faster growing international sales, particularly in light of tough prior year comparisons," Badishkanian said.

[DesperateSP2]

Must be because my neighbour stopped buying the things and now only has four HDs in his garage...
No, putting our jokes aside I wonder who HD financial advisors are. They bought MV Agusta when motorcycle sales all over the Western world were already in a slump and every single evidence said that the worse was yet to come. They actually paid more than what the company's worth and if they had been a little less overenthusiast and really wanted the company that bad they would have let MV Agusta get to the brink of failure, wait for the overgenerous Italian government to bail it out and then buy it for a rock-bottom price. I know it sounds a little cruel but that's how you do business. Now they are caught with falling sales (and wait until the Euro will get even weaker and the good European sales figures of the last years will crash) and they have an ailing company to put back in shape.
Not very smart in my opinion... but if they have problems the US government will surely bail them out. They just need to line behind the three Detroit "greats", the airlines, the banks etc.

[Jami6989]

Ah, it's all relative since the stock was up today and the mkt was down 2.4%. Underperform on friday, outperform on Tues. The 3-day performance is -.14% for the market and +2.02% for HOG stock. Just goes to show people will WILLINGLY buy junk.

[GAMBLER]

Zimmer buying shares @ depressed prices

Harley Skids On European Weakness
Ruthie Ackerman, 10.16.08

Harley-Davidson hit a roadblock in the United States as the turmoil in the economy took a toll on sales and Europe’s roads seemed no less bumpy.
On Thursday, the motorcycle maker announced that its third-quarter earnings missed expectations and it slashed its forecast for 2009 as sales in European countries weakened more than anticipated in September.

Nonetheless Harley-Davidson’s shares shot up 7.4%, or $1.81, to $26.34, Wednesday, rallying with the broader stock market.

RBC Capital Markets analyst Joseph D. Hovorka said the stock has been hit hard recently so there has been some short-covering with the market rally on Thursday. “It’s a difficult time with everything in leisure struggling with the challenging demand environment,” Hovorna said.

Chief Executive Jim Ziemer said that while sales of motorcycles in international markets continued to grow by double digits in the quarter, deteriorating economic conditions caused business to slow in several European countries. “We continue to carefully monitor all markets in light of the potential impact of the current economic realities,” he said.

The good news is that so far Harley has been able to maintain its financial-services business, which provides loans to retail customers and dealers. Investors have been concerned about whether the credit crunch emanating from the subprime loan crisis will keep customers’ from accessing credit for big-ticket purchases.

The Milwaukee-based company reduced the top end of its full-year earnings forecast, saying it now expects to earn in the range of $3.00 a share to $3.10 a share, down from a previous range of $3.00 to $3.18.

Harley said its net profit tumbled 37.0%, to $166.5 million, or 71 cents a share, in the third quarter, down from $265.0 million, or $1.07 a share, in the prior year. Analysts had expected earnings of 79 cents a share.

Sales fell 7.7%, to $1.4 billion, in line with analysts’ forecasts.

[GAMBLER]

Harley-Davidson Reports 2008 Third Quarter Results: PRNewswire Business News: HOG - MSN Money

Harley-Davidson Reports 2008 Third Quarter Results

October 16, 2008

FirstCall/ -- Harley-Davidson, Inc. HOG today announced its results for the third quarter ended September 28, 2008. Revenue for the quarter was $1.42 billion compared to $1.54 billion in the year ago quarter, a 7.7 percent decrease. Net income for the quarter was $166.5 million compared to $265.0 million in the third quarter 2007, a decrease of 37.1 percent. Third quarter diluted earnings per share were $0.71, a 33.6 percent decrease compared to last year's $1.07.

"In the U.S., dealer retail sales of new Harley-Davidson motorcycles in the quarter were in line with our expectations," said Jim Ziemer, Chief Executive Officer of Harley-Davidson, Inc. "Although Harley-Davidson retail motorcycle sales in international markets overall continued to grow double digits in the quarter, unit sales in several European countries slowed more than we anticipated during September as a result of deteriorating economic conditions. We continue to carefully monitor all markets in light of the potential impact of the current economic realities."

For the full year 2008, the Company has narrowed its shipment expectations to 303,500 to 306,000 Harley-Davidson motorcycles. The Company has narrowed its expectations for diluted earnings per share for the full year to $3.00 to $3.10 from the prior range of $3.00 to $3.18.

"We also have been able to maintain Harley-Davidson Financial Services' position as a stable, consistent source of financing for dealers and retail customers during these turbulent conditions in the credit markets," Ziemer said. "Prudent management and customer access to credit will continue to be priorities at HDFS."

"During the third quarter, we completed our acquisition of Italian motorcycle maker MV Agusta Group, expanding our opportunities in Europe. Our 105th Anniversary Celebration at the end of August drew tremendous, highly enthusiastic crowds. And we opened the Harley-Davidson Museum(TM), with its broad appeal to riders and non-riders alike. So even in the midst of economic uncertainty, we continue to broaden our appeal, plant seeds for the future and give people unparalleled experiences and reasons to ride," Ziemer said.

"Going forward, we expect the global economy and consumer concerns to continue to create challenges for Harley-Davidson through the end of the year and in 2009. I remain confident about our future as we continue to manage and reinvest in the business," said Ziemer.

Motorcycles and Related Products Segment -- Third Quarter Results

Revenue from Harley-Davidson motorcycles was $1.05 billion, a decrease of $131.7 million or 11.1 percent versus the same period last year. Shipments of Harley-Davidson motorcycles totaled 74,704 units, a decrease of 11,831 units or 13.7 percent compared to last year's third quarter.

Revenue from Parts and Accessories (P&A), which consists of Genuine Motor Parts and Genuine Motor Accessories, totaled $259.0 million, an increase of $7.5 million or 3.0 percent over the year-ago quarter. Revenue from General Merchandise, which consists of MotorClothes(R) apparel and collectibles, totaled $84.0 million, an increase of $0.8 million or 1.0 percent over the year-ago quarter.

Gross margin for the third quarter of 2008 was 34.0 percent of revenue compared to 38.4 percent for the third quarter last year. This decrease is primarily due to higher product costs and the allocation of fixed costs over fewer units than last year's third quarter. Third quarter operating margin decreased to 16.4 percent from 23.2 percent in the third quarter of 2007. Operating margin for the third quarter of 2008 includes the impact of a one- time $16.6 million expense related to the value of acquired in-process research and development at MV Agusta Group.

Motorcycle Retail Sales Data

During the third quarter, worldwide retail sales of Harley-Davidson motorcycles decreased 9.6 percent compared to the third quarter of 2007. U.S. retail sales of Harley-Davidson motorcycles decreased 15.5 percent for the quarter. The heavyweight motorcycle market in the U.S. decreased 3.1 percent for the same period.

Retail sales of Harley-Davidson motorcycles grew 11.3 percent in the Company's international markets during the third quarter of 2008 compared to the third quarter of 2007. Third quarter retail sales increased 12.4 percent in Canada; the Europe Region was up 2.9 percent; the Asia Pacific Region was up 17.5 percent; and the Latin America Region was up 41.6 percent.

During the first nine months of 2008, worldwide retail sales of Harley- Davidson motorcycles decreased 6.0 percent compared to the prior year. In the U.S., Harley-Davidson motorcycle retail sales decreased 11.9 percent for the first nine months of the year while the U.S. heavyweight market was down 4.0 percent for the same period. International retail sales increased by 12.6 percent for the first nine months of 2008.
Third quarter and year-to-date data are listed in the accompanying tables.

MV Agusta

On August 8, 2008, the Company completed the purchase of the privately- held Italian motorcycle maker MV Agusta Group. The Company acquired 100 percent of MV Agusta Group shares for total consideration of 68.3 million euros ($105.1 million), which includes the satisfaction of existing bank debt for 47.5 million euros ($73.2 million). As a result of the acquisition, the Company recorded $87.9 million of goodwill and the $16.6 million one-time expense related to the value of acquired in-process research and development. These results are included in the quarterly financial data.

Financial Services Segment

Harley-Davidson Financial Services (HDFS) operating income for the third quarter was $35.6 million, a decrease of $13.9 million or 28.0 percent compared to the year-ago quarter. The decrease is primarily due to a $9.4 million write-down of finance receivables held for sale to fair value. In addition, last year's third quarter included a $3.5 million securitization gain compared to no securitization transaction during the third quarter of 2008.

Income Tax Rate

The Company's third quarter effective income tax rate was 38.2 percent compared to 35.5 percent in the same quarter last year. The third quarter increase was due primarily to a non-deductible in-process research and development charge for MV Agusta Group and the expiration of the federal research and development tax credit as of December 31, 2007. In October 2008, the federal research and development tax credit was reinstated for two years retroactive to January 1, 2008 continuing through December 31, 2009. The Company expects its full year effective income tax rate in 2008 will be approximately 35.5 percent.

Harley-Davidson, Inc. -- Nine Month Results

For the first nine months of 2008, revenue totaled $4.30 billion, a 0.9 percent decrease from the year-ago period. Diluted earnings per share were $2.45, a decrease of 16.9 percent compared to the same period last year.

Through the first nine months of this year, shipments of Harley-Davidson motorcycles were 226,898 units, a 9.0 percent decrease compared to last year's 249,413 units. Harley-Davidson motorcycle revenue was $3.26 billion, which is down 2.2 percent compared to last year's $3.33 billion. P&A revenue totaled $706.6 million, a 0.5 percent increase over last year's $703.1 million. General Merchandise revenue totaled $244.8 million, a 5.5 percent increase compared to $232.0 million during the same period in 2007.

HDFS operating income was $107.7 million, a 38.0 percent decrease from last year's $173.6 million.

Cash Flow

Cash and marketable securities totaled $504.9 million as of September 28, 2008. Cash used by operations was $221.2 million, and capital expenditures were $153.7 million during the first nine months of 2008. For the full year of 2008, capital expenditures are still expected to be between $235 million and $250 million.

Stock Repurchase

The Company repurchased 2.5 million shares of its common stock at a cost of $100.1 million during the third quarter of 2008. On September 28, 2008, the Company had 232.8 million shares of common stock outstanding.

As of September 28, 2008, there were 16.7 million shares remaining on a board-approved share repurchase authorization. An additional board-approved share repurchase authorization is in place to offset option exercises.

Company Background

Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company (HDMC), Buell Motorcycle Company (Buell), Harley-Davidson Financial Services (HDFS) and MV Agusta Group (MVAG). Harley-Davidson Motor Company produces heavyweight motorcycles and offers a line of motorcycle parts, accessories, general merchandise and related services. HDMC manufactures five families of motorcycles: Touring, Dyna(R), Softail (R), Sportster (R) and VRSC(TM). Buell produces premium sport performance motorcycles and offers a line of motorcycle parts, accessories, and apparel. HDFS provides wholesale and retail financing and insurance programs primarily to Harley-Davidson and Buell dealers and customers. MVAG produces premium, high-performance sport motorcycles sold under the MV Agusta(R) brand and lightweight sport motorcycles sold under the Cagiva(R) brand.

Forward-Looking Statements

The Company intends that certain matters discussed in this release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "believes," "anticipates," "expects," "plans," or "estimates" or words of similar meaning. Similarly, statements that describe future plans, objectives, outlooks, targets, guidance or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this release. Certain of such risks and uncertainties are described below. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward- looking statements and cautioned not to place undue reliance on such forward- looking statements. The forward-looking statements included in this release are only made as of the date of this release, and the Company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

The Company's ability to meet the targets and expectations noted depends upon, among other factors, the Company's ability to (i) continue to realize production efficiencies at its production facilities and manage operating costs including materials, labor and overhead, (ii) manage production capacity and production changes, (iii) manage supply chain issues, (iv) provide products, services and experiences that are successful in the marketplace, (v) develop and implement sales and marketing plans that retain existing retail customers and attract new retail customers in an increasingly competitive marketplace, (vi) sell all of its motorcycles and related products and services to its independent dealers, (vii) continue to develop the capabilities of its distributor and dealer network, (viii) manage changes and prepare for requirements in legislative and regulatory environments for its products, services and operations, (ix) adjust to fluctuations in foreign currency exchange rates, interest rates and commodity prices, (x) manage access to reliable sources of capital and adjust to fluctuations in the cost of capital, (xi) adjust to regional and worldwide demographic trends and economic and political conditions, including healthcare inflation, pension reform and tax changes, (xii) anticipate consumer confidence in the economy, (xiii) manage the credit quality, the loan servicing and collection activities, and the recovery rates of HDFS' loan portfolio, (xiv) retain and attract talented employees, (xv) detect any issues with our motorcycles or manufacturing processes to avoid delays in new model launches, recall campaigns, increased warranty costs or litigation, (xvi) implement and manage enterprise-wide information technology solutions and secure data contained in those systems, and (xvii) successfully integrate and profitably operate MV Agusta Group.

In addition, the Company could experience delays or disruptions in its operations as a result of work stoppages, strikes, natural causes, terrorism or other factors. Other factors are described in risk factors that the Company has disclosed in documents previously filed with the Securities and Exchange Commission. All of these risk factors are impacted by the current turbulent capital, credit and retail markets.

The Company's ability to sell its motorcycles and related products and services and to meet its financial expectations also depends on the ability of the Company's independent dealers to sell its motorcycles and related products and services to retail customers. The Company depends on the capability and financial capacity of its independent dealers and distributors to develop and implement effective retail sales plans to create demand for the motorcycles and related products and services they purchase from the Company. In addition, the Company's independent dealers and distributors may experience difficulties in operating their businesses and selling Harley-Davidson motorcycles and related products and services as a result of weather, economic conditions or other factors.

[sburns2421]

The numbers aren't nearly as bad as I thought they would be.

[drsus]

fortunately for Harley...Midlife crisis has no regard for the economy